Teacher Retirement

Retirement Letter

To be eligible for the first Retirement incentive payment on May 31st, the teacher must give written notice to the Superintendent of retirement from the district by February 1st and retire by June 30th of the same calendar year.

Retirement Incentive

Completed 20 years of full-time service: Teachers hired on or before July 1, 1997, who have completed twenty (20) years of full-time consecutive professional service in the teacher bargaining unit of ISD No. 199, qualify for TRA annuity payments.

Completed 25 years of at least 0.5 FTE years of service: Teachers with less than full-time service who have completed twenty-five (25) years of service, worked as a teacher at least .5 FTE for each of the years, qualify for TRA annuity payments shall be eligible for the retirement incentive on a pro-rata basis.

Benefit Defined: Teachers shall accumulate five (5) days of credit for each full year of actual teaching in the district up until June 30th following their fifty-fifth (55th) birthday. Teachers with qualifying part-time service as set forth in Section 2 shall be eligible for a pro-rata benefit based upon their years of service at .5 FTE or greater.

A full-time teacher's daily rate of pay shall be the daily rate for the school year in which the teacher qualifies for the benefit.  In no event shall the daily rate of pay exceed the daily rate of pay on June 30th following the teachers' fifty-fifth (55th) birthday. The daily rate shall not include any additional compensation for extra-curricular activities, extended employment or other extra compensation. However, longevity amounts, whichever are applicable, are to be included in any Retirement incentive calculation.

*Employees hired before July 1, 1997, shall have a one-time irrevocable option to switch from the above plan to the 403(b) plan with notice to the District on or before June 30th, 2008. Please, see the Hired After 1997 retirement page for more details on the 403(b) retirement plan.

Post-Retirement Health Benefit

Upon retiring, teachers shall receive payment of funds to be deposited in trust into a Health Care Savings Plan with the Minnesota State Retirement System equal to 91% of BA, Step 1 on the salary schedule. 

Completed 20 years of full-time service: A teacher must meet all of the following standards to be eligible for the benefits described in this Article. A teacher must have completed twenty (20) years of full-time consecutive years of professional service in the teacher bargaining unit of ISD No. 199 and qualify for TRA annuity payments to receive the payment of the full benefit.

Completed 25 years of at least 0.5 FTE years of service: A teacher with less than full-time service must have completed twenty-five (25) years of professional service, qualify for TRA annuity payments, and worked as a teacher at least .5 FTE for each year to receive the payment of a pro-rated benefit based on the years of service at .5 FTE or greater.

To be eligible for receipt of the Post-Retirement Health Benefit on August 15, a teacher must give written notice to the Superintendent of intention to retire from the School District by February 1 and retire by June 30 of the same calendar year.

Severance Package (Sick Leave)

Teachers shall be compensated for unused accumulated sick leave, herein called severance.

Eligibility: To collect severance compensation under this article, a teacher must meet the following conditions: Retirement and Age: A teacher must be at least fifty (50) years of age, must have at least twenty (20) years of service in the district and must be retiring from employment in the district. 

To be eligible for severance pay at the end of the school year, a teacher must give written notice to the district of intention to elect retirement by the February 1st immediately prior to the retirement date.

Payment: Severance compensation shall be determined as follows:

A) For days 1 through 100 of unused accumulated sick leave, the teacher shall be compensated at a rate of $75.00 per day.

B) For days 101 through 170 of unused accumulated sick leave, the teacher shall be compensated at a rate of $80.00 per day.

Compensation shall be made in a payment to the employee's 403(b) account on the October 15th following retirement. 

Personal Leave

Teachers retiring may sell back the maximum accumulation of personal leave allowable at the rate of $200.00 per day. Payment is to be made after the close of the school year in which the said teacher has retired.

Retirement Estimate 

Please contact Human Resources if you wish to have a retirement estimate  completed for you.

Teachers Retirement Association 

For more information and to register for an account please visit the TRA website.

Retirement Letter

To be eligible for the first Retirement incentive payment on May 31st, the teacher must give written notice to the Superintendent of retirement from the district by February 1st and retire by June 30 of the same calendar year.

Retirement Incentive

403(b): Teachers hired after July 1, 1997, will be eligible to participate in the 403(b) matching plan and will not be eligible to participate in any other plan.

3rd year matching: Teachers may contribute a portion of his/her annual contracted salary to their 403(b) plan upon hire. Teachers become eligible for matching participation when they begin their 3rd year of service in the district and complete and submit the appropriate forms to request matching participation.

Years of service: A teacher must be employed one half 1/2 or more of the student contact days in a school year to earn one year of service. Any years of credited service allowed by the Board for purposes of seniority or salary determination shall not be counted toward determining eligibility for the 403(b) matching plan.

Proration: Teachers with less than a 1.0 FTE shall be allowed to participate on a pro-rata basis determined by their FTE as determined by this master agreement.

4% match: For teachers beginning their third (3d) year of service credit as determined by provision of this article, the district shall contribute into a 403(b) plan of the teacher's choice from the plans offered a dollar for dollar match of the teacher's contribution up to a maximum of 4% (four percent) of the teacher's annual contractual salary. The district match shall not exceed the maximum allowable by law. The total district matching contribution shall not exceed $30,000 for an individual teacher. Plans offered will consist of those plans approved by the state.

Payroll deductions: The district shall contribute its match during normal payroll periods thru payroll deduction. The annual contractual salary is determined by the teacher salary schedule. Any additional compensation for extra-curricular activities, extended employment, or other extra compensation is not to be included in determining annual contractual salary.

Post-Retirement Health Benefit

Upon retiring, teachers shall receive payment of funds to be deposited in trust into a Health Care Savings Plan with the Minnesota State Retirement System equal to 91% of BA, Step 1 on the salary schedule. 

Completed 20 years of full-time service: A teacher must meet all of the following standards to be eligible for the benefits described in this Article. A teacher must have completed twenty (20) years of full-time consecutive years of professional service in the teacher bargaining unit of ISD No. 199 and qualify for TRA annuity payments to receive the payment of the full benefit.

Completed 25 years of at least 0.5 FTE years of service: A teacher with less than full-time service must have completed twenty-five (25) years of professional service, qualify for TRA annuity payments, and worked as a teacher at least .5 FTE for each year to receive the payment of a pro-rated benefit based on the years of service at .5 FTE or greater.

To be eligible for receipt of the Post-Retirement Health Benefit on August 15, a teacher must give written notice to the Superintendent of intention to retire from the School District by February 1 and retire by June 30 of the same calendar year.

Severance Package (Sick Leave)

Teachers shall be compensated for unused accumulated sick leave, herein called severance.

Eligibility: To collect severance compensation under this article, a teacher must meet the following conditions: Retirement and Age: A teacher must be at least fifty (50) years of age, must have at least twenty (20) years of service in the district and must be retiring from employment in the district. 

To be eligible for severance pay at the end of the school year, a teacher must give written notice to the district of intention to elect retirement by the February 1st immediately prior to the retirement date.

Payment: Severance compensation shall be determined as follows:

A) For days 1 through 100 of unused accumulated sick leave, the teacher shall be compensated at a rate of $75.00 per day.

B) For days 101 through 170 of unused accumulated sick leave, the teacher shall be compensated at a rate of $80.00 per day.

Compensation shall be made in a payment to the employee's 403(b) account on the October 15th following retirement. 

Personal Leave

Teachers retiring may sell back the maximum accumulation of personal leave allowable at the rate of $200.00 per day. Payment is to be made after the close of the school year in which the said teacher has retired.

Retirement Estimate

Please contact Human Resources if you wish to have a retirement estimate completed for you.

Teachers Retirement Association

For more information and to register for an account please visit the TRA website.